Headlines 1 August 2012

PUCO authorizes fuel costs recovery for AEP-Ohio

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The Public Utilities Commission of Ohio (PUCO) today authorized AEP-Ohio to begin collection of fuel costs incurred from 2009-2011.

AEP-Ohio had previously deferred fuel costs as directed by the Commission in its 2009 electric security plan (ESP).

“Today’s decision allows AEP-Ohio to begin recovery of fuel costs going forward using the long-term debt rate spread over a seven-year period lessening the impact of carrying costs on customers,” said PUCO Chairman Todd A. Snitchler.

“To further reduce the carrying costs, we encourage AEP-Ohio to take advantage of the securitization mechanism made available to them by the recent passage of House Bill 364.”

AEP will collect the costs on a non-bypassable basis through the end of 2018. The new rates will take effect upon the completion of AEP-Ohio’s pending ESP case in docket 11-346-EL-SSO. Additionally, AEP-Ohio will notify customers of the changes to the tariff via bill message or bill insert within 30 days of the effective date.

A copy of today’s Commission opinion and order is available at www.PUCO.ohio.gov. Click on the link to Docketing Information System and enter the case number 11-4920-EL-RDR.

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